Just like New Jersey sports betting, Atlantic City casinos have a long history, but even operators have to be impressed with the revenue they’re currently pulling.
The New Jersey Division of Gaming Enforcement (DGE) reported revenue from Atlantic City’s 9 brick-and-mortar casinos grew by 6% in March. The nearly $229 million in total income in March (2023) is up 5.6% from March 2022.
The top three revenue generators in March (2023) include:
- The Borgata ($113.5 million)
- Golden Nugget ($55 million)
- Hard Rock ($49.7 million)
The numbers are impressive and expected to grow.
Atlantic City Casino Wins Expected to Increase
The chair of the New Jersey Casino Control Commission, James Plousis, painted an upbeat picture after Atlantic City casinos had their best March in a decade.
“Casino win reached its highest level for March in 10 years, showing that Atlantic City’s visitors are taking advantage of its diverse offerings,” Plousis commented. “This is an example of how Atlantic City’s operators have smartly invested capital to add exciting new attractions and appealing accommodations.”
Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton University agreed. She studies the Atlantic City casino industry and told News 4, New York, “Brick-and-mortar revenue, traditionally slow in these (off-peak) months, grew year-over-year by 5.6%, internet gaming is showing no sign of slowing with a monthly year-over-year increase of 17%, and sports wagering, fueled by March Madness, recorded an incredible 82% revenue increase year-over-year for the month,” she said.
On top of all that, retail slots accounted for nearly $165 million of the total income, with table games accounting for the remaining $63.9 million.
In-Person Numbers Still a Concern
However, casinos continue to struggle with their core business, money won from in-person gamblers. In fact, only three of the nine casinos – Borgata, Hard Rock, and Ocean – won more from in-person gamblers last month than they did in March 2019. This is a source of ongoing anxiety for the industry.
According to the Casino Association of New Jersey, the in-person revenue level “demonstrates that the industry continues to be in a rebuilding and recovery phase from where it was three years ago.”
In-Person Experience Is Being Enhanced
A number of improvements are on the way to enhance the in-person gaming experience. “Without a doubt, Atlantic City has worked hard to successfully package sports wagering and traditional casino gaming to create complimentary experiences for visitors,” said Plousis.
“Just last week, I visited several casino hotels and previewed improvements that are underway. New high-quality in-person experiences will surely be well received and help make the summer season very positive for Atlantic City and its guests” he added.
The popularity of sports betting in New Jersey is also expected to help spur new growth. The total amount bet on sports in March surpassed $1 billion, with $93 million kept as revenue by casinos and tracks after paying out winning bets and other expenses. This is money the casinos can use to upgrade.
*Bookmakers Review will continue to monitor the developments in Atlantic City, but it appears the casino rebound is in full swing.
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